Single-Family vs. Multi-Family Residence: How To Find the Right Property Management Company
When you have a rental property (or multiple ones), you may want to consider hiring a property management company. However, not all companies are created equally.
Not sure where to start? Here are some tips to help you find the right property management company.
Ask around. The best way to find a good property management company is to ask around. In fact, your real estate agent may have a good idea of some companies in your area. He or she may have heard about which companies are helpful, and which ones aren’t as helpful. You should also ask other landlords. They may have tried at least one or two companies and may have recommendations either way.
Look online. Online reviews are another way to find a good company. However, it is important to remember that not every company is going to be a good fit. One person can’t please everyone, so you should expect a few bad reviews. You may also want to remember that people are more likely to leave reviews when they are unsatisfied, then when they are happy.
Make a list of your wants and needs. Before you start looking for a property management company, you need to decide what you are looking for in a company. What tasks do you want them to do? Are they just going to collect rent, or do you want them to be the ones who will be on call when something goes wrong? Will you have your tenants contact them or you? Are you looking for someone to do repairs or just go see the problems and call the appropriate professional? You need to know exactly what you are looking for, before you start looking. Otherwise, you won’t know if the company is right for you.
When you are looking at a property management company, you will need to make sure that they will fit all of your needs. Some are better for smaller properties, while others specialize in larger properties. You also need to make sure that they will do whatever you want them to do. Are you going to want someone to be on call? Or are your tenants going to call you? Do you want someone who is going to fix the problem or figure out how to call in case of emergency?